I’m moving to Australia mid-April for a year and I’m looking for the cheapest option to send money to from a GBP bank account to a AUD bank account and vice versa.
The two options I’ve looked at so far are:
Top up Revolut using my UK bank account and transfer to my Aussie bank account, this is free of charge on Revolut’s side and takes 5 working days but my Aussie bank account will charge me up to AUD$11 to receive this transfer as it’s completed via SWIFT.
TransferWise - To transfer roughy £1000 to my Aussie bank account it costs roughly £6 and is completed within 2 working days. There are no charges to receive as it’s completed as an internal australian transfer.
From looking at this, it looks like TransferWise is my best option here . The process works in exactly the same way (and has very similar charges) if I were to do the transfer the other way around (from Aus to UK).
But I wondered if anyone else had experience of this and if there were any other options it’s worth me considering?